Source: Housing Wire
Consumer optimism about the housing market grew immediately following the November elections, according to Fannie Mae’s Home Purchase Sentiment Index (HPSI). What’s more, the share of Americans who expect home prices will only continue to increase grew four percentage points to 35 percent, reversing the three-month downward trend.
Those surveyed who said now is a good time to buy a home decreased by one percentage point to 30 percent, while those who said now is a good time to sell fell by six percentage points to 13 percent in November. Those who said now is a bad time to sell even rose two percentage points to 38 percent.
The HPSI fell in November for the fourth consecutive month, down 0.5 points to 81.2 points. Four of the six components of the HPSI decreased.